Please help A partially completed balance sheet for Blue Co., Inc., as of Octobe
ID: 2328236 • Letter: P
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A partially completed balance sheet for Blue Co., Inc., as of October 31, 2016, follows. Where amounts are shown for various items, the amounts are Required Using the following data, complete the balance sheet 10) a. Blue Co's records show that current and former customers owe the firm a total of S4,200 $630 of this amount has been due for more than a year 7. from two customers who are now bankrupt b. The aut which is still being used in the business, cost $17,100 new, a used car dealer's Blue Book shows that it is now worth $10,000 Management estimates that the car has been used for one-third of its total potential use. (The car is being depreciated using the straight-line c.Theland cost Blue Co. S 12,000, it was recenty assessed for real estate tax purposes at a value of S16 000 d. Blue Co.'s president isn't sure of the amount of the note payable, but he does know that he signed a note e. Since Blue Co. was formed, net income has totaled $32,000, and dividends to stockholders have totaled 521,500 who are now 31, 2016 Assets Accounts payable 3,850 12.000 17,100 7,100 3 Equity equityExplanation / Answer
Balance Sheet October 31, 2016 Assets: Liabilities and Stockholders’ Equity Cash 800 Note payable 9220 Accounts receivable 3570 Accounts payable 3650 Land 12000 Total liabilities 12870 Automobile 17100 Less: Accumulated Depreciation -5700 Stockholders’ Equity: 11400 Common stock 4400 Retained earnings 10500 Total stockholders’ equity 14900 Total assets 27770 Total liabilities and stockholders’ equity 27770